Business / Middle East Business

Syria re-issues sugar and rice tenders 29 Oct 2013 - 04:31 am

ABU DHABI: A Syrian agency re-issued two tenders yesterday, seeking quantities of rice and sugar it has repeatedly tried and failed to obtain...

Bahrain in early stages of bank mergers, says official 28 Oct 2013 - 12:48 am

DUBAI: Bahrain is still in the early stages of a series of bank mergers designed to strengthen the sector in the face of...

Syphax Airlines: An Arab Spring success story 28 Oct 2013 - 12:45 am

Mohammed Frikha, founder and owner of Syphax Airlines. TUNIS: The growth of a small Tunisian airline over the past two years is a...

Egypt to issue wheat tender in 2-4 weeks 28 Oct 2013 - 12:39 am

CAIRO: Egypt, the world’s biggest wheat importer, will issue an international tender within the next two to four weeks to ensure its wheat...

Zain to expand into North Africa 28 Oct 2013 - 12:37 am

Zain Group Chief Executive Scott Gegenheimer during the interview. KUWAIT: Mobile telecommunications group Zain wants to expand in North Africa by taking controlling...

Egypt seeks to lure investors from region 28 Oct 2013 - 12:37 am

CAIRO: Egypt is planning a charm offensive to persuade Gulf Arab entrepreneurs to invest in its economy, battered by political upheaval, protests and...

Libya says US firm to stay, eyes Algeria gas deal 28 Oct 2013 - 12:37 am

TRIPOLI: US firm Marathon Oil will continue operating in Libya after giving up plans to sell its stake in Waha Oil Company, Oil...

Jordan’s Arab Bank 9 month net profit up 15.4pc 28 Oct 2013 - 12:36 am

AMMAN: Jordanian lender Arab Bank Group’s nine-month net profit rose 15.4 percent to $559m, helped by growth in net interest income and operating...

Dubai opens second airport after delay 28 Oct 2013 - 12:34 am

The UAE Vice President, Prime Minister and Ruler of Dubai, H H Sheikh Mohammed bin Rashid Al Maktoum tours the newly opened Al...

Iran’s energy subsidies hindering vital projects: MP 28 Oct 2013 - 12:34 am

DUBAI: Cash handouts on fuel introduced by Iran’s previous government to offset price hikes are depriving state energy companies of funds needed to...

Bullish trading across Middle East bourses 27 Oct 2013 - 11:53 pm

DUBAI: Saudi Arabia’s largest listed company Saudi Basic Industries Corp (SABIC) fell from a 18-month high yesterday, weighing on the kingdom’s bourse after...

Renaissance unit prices debut bond 27 Oct 2013 - 11:53 pm

DUBAI: Topaz Marine, a unit of Oman’s Renaissance Services, priced its $350m debut bond, a statement from the parent firm said on Sunday,...

Iran oil exports to plunge 26 Oct 2013 - 12:04 am

A view of a petrochemical complex in Assaluyeh seaport on Iran’s Persian Gulf coast. Iran’s oil sales in October will fall to their...

Wataniya’s profit drops in third quarter 25 Oct 2013 - 04:12 am

DUBAI: Wataniya, Kuwait’s No.2 telecom operator, reported a slight drop in third-quarter profit yesterday, missing analysts’ estimates as the company’s under-performance continued. The...

Egypt hints at selling shares to fund high-speed rail project 25 Oct 2013 - 04:12 am

CAIRO: The Egyptian government is considering selling shares to the public to help finance a high-speed passenger rail project extending up the Nile...

UAE inflation set to rise, but to stay manageable: Analysts 24 Oct 2013 - 08:43 am

DUBAI: Figures released yesterday suggested inflation in the United Arab Emirates will creep higher in coming months, fuelled by a strong revival in...

Saudi-US strain unlikely to hit business ties 24 Oct 2013 - 08:35 am

RIYADH: Saudi Arabia’s frustration with its main ally the United States over Middle East policy will not harm business relations or oil sales,...

National Bank of Kuwait posts $702m net profit 24 Oct 2013 - 03:46 am

Doha: National Bank of Kuwait (NBK), the largest Kuwaiti bank, reported net profits of $702m (KD198.6m) for the first nine-month of 2013 compared...